From Financial Management to Business Management

As contractors go through different stages of growth it often makes sense to expand the financial management role into more comprehensive business management role.

D. Brown Management Profile Picture
Share
Leadership Tools: Financial Management to Business Management.

At exactly what stage a contractor starts to expand this role depends on:

  1. Volume or work
  2. Complexity of work
  3. Complexity of the regulatory environment the contractor operates in
  4. Best Return on Time for other operating executives who are currently doing these functions

Of all these the best Return on Time for other executives is often the most overlooked.  Consider how much time some of these functions take other people in the organization.

Could their time be better spent:

  • Connecting with customers to help develop business?
  • Improving project execution?
  • Spending more time developing talent to build capacity for the future?

A fifth major factor includes succession - sometimes the owner/operator of the company is doing so many of these functions or managing so many direct reports that a clean succession is nearly impossible.  


Schedule a call with us to see if this makes sense for your organization




Definition - Certification
The Verified Ability to do something (skill) to meet a certain level of performance (standard / competency).
Construction Benchmarks, Trends, Forecasts, and Predictions
Two of the most highly leveraged choices that leaders of contractors make are about market strategy and major resource allocations. Robust information systems about the external market are a critical part of this decision-making process.
Required Leadership Focus Changes at Each Stage of Growth
At each stage of growth, the leadership focus at the top for majority Owners/CEO/President must change to continue navigating growth effectively. Concurrently, the leadership focus from the prior stage of growth must be transferred and expanded downward.